Meeting the higher end of a price range does not often net the buyer a 6.5 per cent share price bounce. Especially when the Las Bambas mine, the asset in question, will produce copper, a metal priced near three-year lows. But first, this is a transformative deal that will vault MMG, the Hong Kong-listed arm of state-backed China Minmetals, into the copper big leagues. Second, there are signs of a new willingness among investors to look again at China’s state-owned enterprises.
收購價落在價格區間上端並不經常爲收購方的股價帶來6.5%的漲幅。尤其是考慮到相關資產——拉斯邦巴斯(Las Bambas)礦將要出產的銅的價格接近三年最低位。不過,首先這一交易是一次變革性的交易,五礦資源(MMG)將在該交易的支撐下躋身銅礦大企業之列。其次,有跡象表明投資者出現了再次關注中國國企的新意願。五礦資源是中國國企五礦集團(Minmetals)在香港上市的子公司。